Question
In response to my query regarding the permissibility of charging cash deposit fees, Albaraka Bank replied as follows: 1. Al Baraka Bank South Africa adheres to the Shariah Standards laid down by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). 2. The issue of cash deposit fees has been deliberated in great detail with the Bank's Shariah Supervisory Board and the Shariah advisory panel of the Al Baraka Banking Group, the chairman of which is Sh. Abdus Sattar Abu Ghudda, a distinguished international jurist and a senior member of the AAOIFI Shariah Board as well as the International Fiqh Academy of Jeddah. 3. The resolution that has been passed by the international Shariah advisory panel of the Al Baraka Banking Group and ratified by the Bank's own Shariah Board allows us to charge cash deposit fees on current, investment and finance debtors accounts. 4. This is also in accordance with the prevalent banking practice (urf) in South Africa due to the high costs involved in handling cash.
Answer
In the four answers furnished by AlBaraka Bank, no proof of the Shariah is given. Some ambiguous 'AAOIFI' standard and the name of a sheikh are mentioned. The response of the bank does not provide any Shariah basis for its haraam deposit fees.
If the kuffaar capitalist banks had not introduced cash deposit fees, never would AlBarakah have charged such haraam, riba, extortion fees. The deposit fees are gross exploitation which is imposed on the bank's clients whose money the bank uses to earn haraam riba.
We have explained the Shar'i prohibition of these fees in a detailed article. No one has to date responded with any Shar'i facts to counter our arguments. The only thing they can come up with is the 'AAOIFI creature which is definitely not the Shariah. No one's standard can abrogate the Standard of the Shariah.
The "high costs" of handling cash is an extremely deceptive, hallucinatory stratagem presented to fleece clients. Despite the so-called 'high costs', these banks coin millions annually. Hitherto, even without these haraam fees, they were making millions by exploitation. Since only the Qabr (grave) can satiate man's greed, they have fabricated this new fee for 'handling cash'. 'High costs for handling cash' is an obscene LIE. Banks have since time immemorial – since their inception -- never charged such fees of exploitation. The natural consequence of devouring riba is the development of an inordinate craving for more haraam money. The greed is simply insatiable.
Shaikh Abu Ghudda is not the Shariah. He must present his Shar'i dalaa-il for his view. His personal opinion has no value and no effect if it is not the product of Shar'i daleel. These modernists of AlBaraka Bank are swift in making 'taqleed' of characters who present corrupt 'fatwas' to aid in the corrupt project of churning out more riba money. But, they have an aversion for true Taqleed of the Math-hab.
In matters of the Shariah, we do not make taqleed of modernist sheikhs and incompetent shariah boards which are on the payroll of the capitalist banks.
The 'prevalent banking practice' is a confirmed capitalist riba system. Since the brains of Albarakah's personnel are corrupted with the capitalist riba system, it is not surprising that the bank cited the prevalent capitalist, riba banking system as its 'shariah'.
`Fees charged for handling cash – cash which clients loan to the bank – are HARAAM. AAOIFI's standards stand rejected in the Shariah.
- Source
- themajlis.co.za
- Published in
- The Majlis Vol 20 No 10
- PDF page
- 4
Appears under HARAAM DEPOSIT FEES.